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Economy News-Daily Digest: 2 Key Updates

Economy News copy

1. SIDBI launches a National Level Entrepreneurship Awareness Campaign, Udyam Abhilasha in 115 Aspirational Districts identified by NITI Aayog in 28 States and reaching to around 15,000 youth

 On the occasion of Birth Anniversary of Mahatma Gandhi, Small Industries Development Bank of India (SIDBI), had launched a National Level Entrepreneurship Awareness Campaign, Udyam Abhilasha in 115 Aspirational Districts identified by NITI Aayog in 28 States and reaching to around 15,000 youth. SIDBI will join to contribute to “the transformation mission” unleashed for these districts.  The campaign would create and strengthen cadre of more than 800 trainers to provide entrepreneurship training to the aspiring youths across these districts thus encouraging them to enter the admired segment of entrepreneurs.

SIDBI has partnered with CSC e-Governance Services India Limited, a Special Purpose Vehicle, (CSC SPV) set up by the Ministry of Electronics & IT, Govt. of India for implementing the campaign through their CSCs. The  objectives of the missionary campaign includes :- (i) to inspire rural youth in aspirational districts to be entrepreneurs by assisting them to set up their own enterprise, (ii) to imparttrainings through digital medium across the country, (iii) to create business opportunities forCSC VLEs,(iv)to focus on women aspirants in these aspirational districts to encourage women entrepreneurship and (v)to assist participants to become bankable and avail credit facility from banks to set up their own enterprise.

SIDBI is also taking-up with stakeholders including Banks, NABARD, NBFCs, SFBs, District Industries Centres, State Govt. etc. to be a part of this campaign and ensure mutlifold impact. Further, CSC Village Level entrepreneurs (VLEs) would play role of catalyst for these aspiring entrepreneurs. Apart from training, VLEs would also provide handholding support to the aspirants to establish new units by assisting them in availing loans for their enterprise and making them aware about various initiatives of Government of India like Pradhan Mantri Mudra Yojana, SUI etc. and educate the youths in these districts on business literacy.

 

2. BSE becomes first stock exchange in India to launch commodity derivative contracts in gold, silver

 Leading bourse BSE became the first stock exchange in the country to launch the commodity derivative contracts in gold and silver. Till date, commodity contracts are available only on MCX and NCDEX, the two specialised commodity derivatives exchanges in the country.  The bourse also promises a user-friendly platform with robust risk management system and wider market penetration.

BSE has already registered 150 trading members and 27 clearing members for its commodity derivatives segment. The exchange also waived off transaction charges for the first year in the commodities derivatives segment. The commodity trading will be conducted from 10.00 am to 11.30 pm from Monday to Friday.

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